Octavia Wealth Advisors LLC Cuts Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Octavia Wealth Advisors LLC decreased its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,670 shares of the company’s stock after selling 3,521 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Marqeta were worth $200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Marqeta by 5.8% in the third quarter. Vanguard Group Inc. now owns 42,892,435 shares of the company’s stock worth $305,393,000 after buying an additional 2,361,729 shares in the last quarter. Capital Research Global Investors boosted its stake in Marqeta by 349.7% in the first quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock worth $410,050,000 after buying an additional 28,882,196 shares in the last quarter. BlackRock Inc. boosted its stake in Marqeta by 2.4% in the third quarter. BlackRock Inc. now owns 30,903,031 shares of the company’s stock worth $220,029,000 after buying an additional 735,035 shares in the last quarter. FMR LLC lifted its position in Marqeta by 27.1% in the third quarter. FMR LLC now owns 28,456,412 shares of the company’s stock valued at $170,169,000 after purchasing an additional 6,058,777 shares during the last quarter. Finally, Visa Inc. bought a new stake in Marqeta in the first quarter valued at approximately $137,389,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analysts Set New Price Targets

MQ has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. KeyCorp boosted their price objective on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Wells Fargo & Company boosted their price objective on Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Monness Crespi & Hardt started coverage on Marqeta in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $7.50 price objective for the company. Finally, Keefe, Bruyette & Woods upped their target price on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Marqeta presently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Trading Up 1.9 %

MQ opened at $5.39 on Thursday. The stock has a fifty day simple moving average of $6.06 and a two-hundred day simple moving average of $6.07. Marqeta, Inc. has a 12-month low of $3.74 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The business had revenue of $118.82 million during the quarter, compared to the consensus estimate of $110.80 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The firm’s quarterly revenue was down 41.7% compared to the same quarter last year. Research analysts forecast that Marqeta, Inc. will post -0.35 earnings per share for the current fiscal year.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.